During 20x1, Orca Corp. decided to change from the FIFO method of inventory valuation to the weighted-average method. Inventory balances under each method were as follows:________.

FIFO Weighted-average

January 1, 20x1 $71,000 $77,000

December 31, 20x1 $79,000 $83,000

Orca's income tax rate is 30%.

In its 2005 financial statements, what amount should Orca report as the cumulative effect of this accounting change?

a) $2,800

b) $4,000

c) $4,200

d) $6,000

A checking account offers easy access to your money for your daily transactional needs and helps you cash secure.

In today's world it is important to have a checking account, for example in India even in rural areas people have checking accounts, which makes transactions easy and secure and it can become expensive if not have a checking account, for example, if a shopkeeper is not having change and you don't have a checking account then the transaction can become expensive, moreover, you will require to carry cash which will become expensive with less security.

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Answer:

A. Use incentive controls that are linked to higher-level performance.

C. Matrix structure.

Explanation:

Since in the question it is mentioned that Google has 7 business units as organized by page also at the same time the vice president has the full responsibility with respect to the success of each units so here the control would be that by using the incentive controls that are interconnected to the performance i.e. outsanding would results into the success of the each unit.

As Google has seven business units so here the structure form is of matrix structure as it deals with more than one organization structure that involves more responsibility, authority etc

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Answer:

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Answer:

Mexico and Brazil

Explanation:

They are both countries known for Latin America

Answer:

Explanation:

No, I don't think so. It's not serious, and if Deceitful Dad makes it up and Sammy Son accepts the apology, then no charges will be pressed. Also the result might be different, but it's in his name, it's in his nature to lie, so Deceitful Dad might accept the 15 dollars first and not take him at all (basically, he could scam Sammy)

Answer:

I think "A & B are correct."

Explanation:

Risk*

Answer: They are relatively risk-free.

Reggie's medical expense deduction is $7,276.

AGI, or adjusted gross income, is a person's total income minus certain deductions and is used to calculate taxable income.

Reggie, who is 55 years old, had an AGI of $35,200 in 2022. During the year, he incurred the following medical expenses:

Drugs (prescribed by physicians): $5,701

Marijuana (prescribed by physicians): $1,470

Health insurance premiums-after taxes: $1,280

Doctors' fees: $1,320

Eyeglasses: $445

Over-the-counter drugs: $270

Reggie was reimbursed $570 by his insurance company for a portion of the doctors' fees. To calculate his medical expense deduction, we first need to subtract any reimbursements from his total medical expenses.

Total medical expenses: $5,701 + $1,470 + $1,280 + $1,320 + $445 + $270 = $10,486

Reimbursements: $570

Medical expenses after reimbursements: $10,486 - $570 = $9,916

To claim a medical expense deduction, the expenses must exceed a certain percentage of AGI, which varies depending on the taxpayer's age. For taxpayers who are 65 or younger, the threshold is 7.5% of AGI. For taxpayers who are over 65, the threshold is 7%.

Since Reggie is 55 years old, the threshold is 7.5% of his AGI or $35,200 x 0.075 = $2,640.

Therefore, Reggie can deduct the portion of his medical expenses that exceed $2,640.

Amount of medical expenses that exceed the threshold: $9,916 - $2,640 = $7,276

Therefore, Reggie's medical expense deduction is $7,276.

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A function/graph/relation's domain and range are defined as follows:

The domain of a function is the set that contains all of the function/relation's potential input values; hence, it is made up of x values.

The range of a function is the set that contains all of the function/relation's potential output values; hence, it is made up of y values.

Because the problem is incomplete, the notions of domain and range are given and then applied to derive the domain and range.

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Full Question:

Although part of your question is missing, you might be referring to this full question:

Please define the terms

Answer:

4,084

Explanation:

Calculation to determine the economic order quantity (EOQ) for Haulsee

Using this formula

Economic Order Quantity (EOQ) =((2* Annual Requirement * Cost per order)/Carrying cost per unit)^ (1/2)

Let plug in the formula

Economic Order Quantity (EOQ) = ((2*800,000*540)/(370*14%))^(1/2)

Economic Order Quantity (EOQ) = 4,084 units

Therefore the economic order quantity (EOQ) for Haulsee is 4,084 units

Answer: c. Secondary market.

Explanation:

The U.S. Securities Act was passed in 1933 in the aftermath of the Great Depression which saw the Stock market crash and investors lose massive amounts of money.

The Act is meant to regulate the activities of the Stock market which is where stocks that have already been issued are traded. This means that the stock market is a secondary market therefore the Act focuses on investments through the secondary market.

It is correct to say that when talking about personal finance, always remember that you will manage your money or the lack of it, this being an essential topic for better control of your expenses and income.

You can develop a personal budget, which is a simple and easy-to-do technique, where all your personal accounts for a period are exposed, whose objective is to increase understanding about your finances, your needs and allocation of resources for your goals.

Therefore, financial education is a topic that should be more instituted in schools and social institutions, to provide greater subsidies for individuals to understand how to balance their finances to increase their quality of life and avoid indebtedness.

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Managers want larger budgets; entrepreneurs work to do more with less.

Entrepreneurs have a distinct mindset when it comes to resources compared to employee-managers. While managers often seek larger budgets to accomplish their goals, entrepreneurs tend to focus on doing more with less.

This difference in perspective stems from the inherent nature of entrepreneurship which involves taking calculated risks and maximizing efficiency in resource allocation.

Entrepreneurs understand that resources, such as capital, time, and manpower, are limited and valuable. They recognize that acquiring substantial budgets may not always be feasible, especially in the early stages of a venture.

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Journal Entry:

Date: [First year-end date]

The amortization expense for the first year is $120,000.

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Answer:

Asking Price

Explanation:

A financial statements are helpful to the business owner, employees, and investors because:

This refers to those written records that convey the business activities and the financial performance of a company.

Some examples of financial statements in every standard companies includes Income statement, Cash flow statement, Balance sheet, Note to Financial Statements, Statement of change in equity etc.

In conclusion, majority of firm's financial statement are audited by government agencies, accountants, firms  to ensure accuracy, tax purpose, financing, investing purposes etc.

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The financial statements (Income Statement, Statement of Owner’s Equity, Balance Sheet, and Statement of Cash Flows) give  snapshot of a corporation's financial health.

Financial statements which is been used as accounting tool help to provide snapshot of a corporation's financial health.

It help to provide the company or organization with performance, operations as well as  cash flow as well as company's revenue, expenses.

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The news is considered true and accurate when it is based on facts and evidence. This means that the sources used to create the news must be reliable and trustworthy.

News reporters and journalists must verify the information they receive from their sources to ensure that it is accurate before they publish or broadcast it. They must also use multiple sources to confirm the information they receive.

In addition, news must be presented in a balanced and impartial way. This means that reporters should not have any biases or prejudices that affect the way they report the news. They must also present both sides of a story to give their audience a complete picture of what is happening.

Another important aspect of accurate news is the use of language. News reporters must use language that is clear and concise, avoiding any exaggeration or sensationalism. They must also avoid using inflammatory language or making unfounded claims.

Finally, news organizations must have a strong ethical code that guides their reporting. This code should include principles such as accuracy, impartiality, fairness, and transparency. By following these principles, news organizations can ensure that their reporting is true and accurate.

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The capitalist system in the United States is one of the  large-scale economic shifts that have created our present service economy

Economic change, which can be characterized as a change in the economy's structure, policies, or growth, is one of the external factors that influence company decision-making.

Every country's economy has expansionary and contractionary eras. The levels of employment, productivity, and the overall demand and supply of the country's goods and services are what lead to these changes. These adjustments cause short-term expansionary and deflationary episodes.

An economic system known as a service economy is one in which the provision of services, as opposed to the production of products, is the primary activity. Road construction, medical treatment, food, lodging, and other professional services are some of these services.

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Karlee provided a vertically integrated range of services that support customers by using A. Advanced design engineering support.

It should be noted that vertical integration simply means a process that involves acquiring business operations towards identical production.

In this case, Karlee provided a vertically integrated range of services that support customers by using advanced design engineering support.

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It's hard to tell how much money is in the world because it keeps changing because of things like prices going up, the value of different types of money, and how much people are buying and selling things.

It is difficult to assess the precise sum of money that exists within the world since it is always changing due to variables such as swelling, money trade rates, and economic movement.

Therefore, In any case, agreeing to some terms, the overall sum of money within the world is generally around $90 trillion. It is critical to note that this can be as it were an gauge and the genuine sum of cash may be diverse.

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Because Rick often gives Owen vegetables and fruits in exchange for meat, and vice versa, this scenario best describes a trade by barter.

A trade by barter refers to direct exchange of goods or services without an intervening medium of exchange or money either according to established rates of exchange or by bargaining.

A trade by barter is common among traditional societies, most particularly in those communities with some developed form of market. Product can be bartered within a group as well as between groups, although gift exchange probably accounts for most intragroup trade, particularly in small and relatively simple societies.

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The government database that one would search to discover if the business name one select is available would be option C. U.S. Patent and Trademark Office (USPTO).

The USPTO ensures a database of registered trademarks and pending trademark applications. You can search this database to see if your desired business name is already registered as a trademark.

One should also note that registering a business name and registering a trademark are two separate processes, but they can overlap. It's key to ensure that one's desired business name does not infringe on any existing trademarks to avoid legal issues in the future.

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The interest paid for the specified values is $60.

Given,

Loan amount: $600

five years to pay it off.

The interest rate per year is 2%.

The amount of interest due is:

600*2/100*5: $60

An interest rate reveals how costly borrowing is or how profitable saving is. As a result, the amount you pay for borrowing money, stated as a percentage of the total loan amount, is the interest rate if you are a borrower.

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The percentage of assets provided by investors is 57.98%, the percentage of assets provided by creditors is 34.41%, and the percentage of assets provided by earnings is 7.61%.

To determine the percentage of assets provided by investors, creditors, and earnings, we need to calculate the total assets of Maben Company, which is calculated as follows:

Total Assets = Cash + Land

Total Assets = ($34,000 + $24,000 - $1,400 - $9,000) + $57,000

Total Assets = $104,600

The percentage of assets provided by investors is calculated as follows:

Percentage of assets provided by investors = (Common stock / Total assets) x 100

Percentage of assets provided by investors = ($34,000 + $24,000) / $104,600 x 100

Percentage of assets provided by investors = 57.98%

The percentage of assets provided by creditors is calculated as follows:

Percentage of assets provided by creditors = (Bank note / Total assets) x 100

Percentage of assets provided by creditors = $36,000 / $104,600 x 100

Percentage of assets provided by creditors = 34.41%

The percentage of assets provided by earnings is calculated as follows:

Percentage of assets provided by earnings = (Retained earnings / Total assets) x 100

Percentage of assets provided by earnings = ($52,000 - $47,000 - $1,400 - $9,000) / $104,600 x 100

Percentage of assets provided by earnings = 7.61%

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Answer:

A and C

Explanation:

A manufacturing cost is the depreciation of the office supplies utilized by the sales team and indirect materials. As a result, choices (A) and (C) are the correct stuff.

The cost of all the resources used to produce a product, collectively referred to as the manufacturing cost, is what is considered. Direct labor, direct material costs, and manufacturing overhead make up the three areas that make up the cost of production. The whole cost of delivery is affected by it.

The raw materials known as "direct materials" are those that are included into the finished good. Applying a chain of processes to maintain a deliverable product provides value to raw materials in manufacturing. For example, welding, cutting, and painting are just a few of the many processes that can be used on raw materials. The difference between direct and indirect materials must be understood.

Hence, option (C) is accurate.

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A role of ownership forms in the development of the economy is the Sole Proprietorship, which can be defined as a company without government regulation, formed by only one owner who pays a tax on his profits and is responsible for his earnings and debts.

This is a form of ownership that helps in the development of the economy due to the fact that there is little bureaucracy to start or undo the business, which encourages entrepreneurship and the creation of small businesses, which can be innovative and creative for the development of the economy.

Therefore, Sole Proprietorship is one of the forms of ownership that aid economic development by generating innovative businesses that can grow and become other forms of property, such as LLC or LLP, which have a greater chance of investment and easier credit.

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The underapplied overhead in Luzadis Company is $26000.

A predetermined overhead rate is an allocation rate that is used to apply the anticipated cost of manufacturing overhead to cost objects for a particular reporting period. Since it avoids compiling actual manufacturing overhead costs as part of the period-end closing process, this rate is frequently used to help with faster book closing. However, at the very least at the conclusion of each fiscal year, the discrepancy between the amounts of overhead that were estimated and actual must be reconciled.

The predetermined overhead rate was based on a cost formula that estimates $560,000 of total manufacturing overhead for an estimated activity level of 70,000 machine-hours.

=  Total Manufacturing overhead / Machine hours

= 560,000 / 70000

= 8 per hour

Now, to compute the underapplied or overapplied overhead,

Under absorbed Overhead = Overhead incurred - Overhead applied

= 514000 - ( 61000 × 8 per hour)

= 514000 - 488,000 =  $26000

Thus, the underapplied overhead in Luzadis Company is $26000.

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Complete question:

Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of machine-hours. The predetermined overhead rate was based on a cost formula that estimates $560,000 of total manufacturing overhead for an estimated activity level of 70,000 machine-hours.

During the year, a large quantity of furniture on the market resulted in cutting back production and a buildup of furniture in the company’s warehouse. The company’s cost records revealed the following actual cost and operating data for the year:

Machine-hours                                                                       61,000

Manufacturing overhead cost                                                      $514,000

Inventories at year-end:  

Raw materials                                                                         $14,000

Work in process (includes overhead applied of $48,800)         $188,000

Finished goods (includes overhead applied of $92,720)          $357,200

Cost of goods sold (includes overhead applied of $346,480) $1,334,800

Required:

Compute the underapplied or overapplied overhead.

Answer:

100 shirts

Explanation:

Borrowing from the contribution margin concept, the level where the marginal benefit is greater than total costs is the break-even point.

Break-even point = fixed cost / contribution margin per unit.

For this retailer,

Fixed costs are $500,

The contribution margin per unit = selling price- variable cost

=$10-$5

=$5

Break-even point

= $500/$5

= 100units

The retailer would have to sell 100 shirts for it’s marginal benefits to be greater than its total costs.

This is the point where the additional gain derived is more than the total costs.

Applying break even point, we'll have

Break-even point

= Fixed cost / Contribution margin per unit.

Fixed cost

= $500

Contribution margin per unit

= Selling price - Variable cost

= $10 - $5

=$5

Break-even point

= $500 / $5

= 100units

Hence, the retailer would have to sell 100 shirts for it’s marginal benefits to be greater than its total costs.

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Answer:

that is really good

Explanation:

Melissa made a profit of $31,571.69 on her investment, considering the back-end load.

Calculating the number of shares purchased:

Number of shares = Investment amount / NAV at the time of purchase

Number of shares = $45,000 / $12.78 = 3,520.81 shares (rounded to two decimal places)

Calculating the value of the investment at the time of sale:

Value at the time of sale = Number of shares * NAV at the time of sale

Value at the time of sale = 3,520.81 shares * $22.33 = $78,596.69 (rounded to two decimal places)

Calculating the back-end load:

Back-end load = Investment amount * Loading rate

Back-end load = $45,000 * 4.5% = $2,025

Calculating the profit or loss:

Profit/Loss = Value at the time of sale - Investment amount - Back-end load

Profit/Loss = $78,596.69 - $45,000 - $2,025 = $31,571.69 (rounded to two decimal places)

Therefore, Melissa made a profit of $31,571.69 on her investment, considering the back-end load.

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